The agreement is between the city of North Augusta and North Augusta Riverfront Co. LLC, the original developers of Hammond’s Ferry.

The agreement involves a more-than-25-acre site next to the Savannah River near the 13th Street bridge.

Developers would be required to build two 4,000-square-foot, multistory buildings that could house businesses such as restaurants, shops, a bed and breakfast and more, said Mayor Lark Jones.

The proposal also includes a Family Y building with a pool and privately developed single family homes.

As far as the city is concerned, the agreement includes building parts of the roads and contributing 25 percent toward the parking lot.

A park along the riverfront is also included, said Jones, noting that it could be likened to the Henry C. Chambers Waterfront Park in Beaufort, S.C., and the Battery & White Point Gardens in Charleston, S.C.

The city has authorized the design of the park. Funding is available but has not been allocated yet, he said.